Saudi consumer spending reached SAR 144.95 billion in July 2026, up 8% from SAR 134.51 billion in July 2025. Point-of-sale spending was SAR 62.85 billion, up 7%, across 1.096 billion transactions on 2.5 million terminals. E-commerce through Mada cards rose 26% to SAR 37.63 billion across 197.6 million transactions, while cash withdrawals from 14,400 ATMs fell 3% to SAR 44.47 billion. There are 70.12 million issued bank cards.
The change involves switching from one channel to another, which means that if you are running a business aimed at consumers you should shift your investments from cash handling to digital acceptance rather than considering both as part of growth.
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The branches came back
The number of bank branches operating in Saudi Arabia rose to 1,929 in H1 2026 from 1,910 at the end of 2025, the highest since 2021 and a third consecutive year of increase after declines between 2018 and 2023 from a peak of 2,076 in 2019. Al Rajhi Bank remained the largest network with 513 branches, followed by SNB at 489 and Riyad Bank at 232 — the top three holding about 64% of all branches with 1,234 between them — while SNB and Riyad Bank each added eight branches and Arab National Bank closed three, taking its network to 118.
Strategy teams at Saudi banks should note that the top three banks hold about 64% of all branches, totaling 1,234. This concentration is now becoming a distribution advantage instead of just a cost issue.
Saudi VC halved, then halved again
Saudi venture capital funding fell 74% year on year to $219 million in H1 2026, from roughly $853 million in H1 2025, across 72 deals, down 41% from 122. Fintech took 67% of dollars ($147 million); the Kingdom held a 34% share of MENA deal count, with early-stage rounds at 83% of all deals.
Deal count fell 41% while dollar volume fell 74%, the average check shrank even faster than the number of deals. Investors aren't just doing less; they're doing smaller, which is the more telling half of this number.
Two hundred forty-four million, committed
Derayah committed SAR 244 million to a fund investing in artificial intelligence, enterprise software and advanced technologies, paying 40%, SAR 97.5 million, on 28 August, with the remaining 60% due over 24 months. The fund targets SAR 4.5 billion and is capped at SAR 5.62 billion, with roughly 15 portfolio companies expected.
SAR 244 million has been committed to a SAR 4.5 billion fund that will support approximately 15 companies. The selection of the Saudi AI cohort is currently underway.
